Cowen Inc., a diversified financial services firm, announced this Wednesday that it has appointed Alan Circle and Martin Ferraro to its Outsourced Trading division as Managing Directors and Co-Heads of Foreign Exchange , Commodities and Futures.
Both Circle and Ferraro, who bring decades of experience in the asset classes, have been recruited from BTIG, a global financial services firm that specializes in institutional trading, investment banking, and more.
According to the statement from Cowen, the two appointments follow an increase in client activity from clients in FX, commodities, and futures. In their new positions, they will be responsible for leading the expanded service offering to the company’s current clients, which is also trying to reach new users.
Circle and Ferraro are based in New York and report to Michael Rosen and Jack Seibald, who are the Global Co-Heads of Prime Brokerage and Outsourced Trading. Cowen expects to hire additional team members for its London and Hong Kong operations over the year.
”The addition of Foreign Exchange, Commodities and Futures marks an important development for Cowen’s Outsourced Trading effort and continues the firm’s momentum toward establishing a complete global, Multi-Asset class solution for our clients,” said Rosen in the statement.
“Long established in global equities, Cowen has built a strong team of dedicated personnel in the US and UK with derivatives and fixed income experience over the past year, and we will also provide world-class service in these additional asset classes.”
Circle and Ferraro joins Cowen from BTIG
At BTIG Circle spent more than seven years as the Managing Director and Co-Head of Foreign Exchange, Commodities and Futures. Earlier in his career, he spent six years at the Bank of America as MD and Head of Global Institutional FX Sales. In the FX space, he has held similar roles at HSBC, J.P. Morgan and PFG Best.
Ferraro was also a Managing Director and the Co-Head of FX, Commodities, and Futures, alongside Circle. During his career, he spent time at BNP Paribas as Managing Director and Head of Institutional FX Sales and held similar roles in FX with Lehman Brothers, J.P. Morgan, and PFG Best.
